Frontier Capital Management Co. LLC Acquires New Stake in Barracuda Networks, Inc. (CUDA)

Frontier Capital Management Co. LLC acquired a new stake in shares of Barracuda Networks, Inc. (NYSE:CUDA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 395,728 shares of the communications equipment provider’s stock, valued at approximately $9,125,000. Frontier Capital Management Co. LLC owned about 0.75% of Barracuda Networks at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Chicago Equity Partners LLC increased its stake in Barracuda Networks by 0.5% in the first quarter. Chicago Equity Partners LLC now owns 37,740 shares of the communications equipment provider’s stock valued at $872,000 after buying an additional 170 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Barracuda Networks by 2.9% in the first quarter. Asset Management One Co. Ltd. now owns 6,276 shares of the communications equipment provider’s stock valued at $146,000 after buying an additional 177 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Barracuda Networks by 9.5% in the first quarter. Acrospire Investment Management LLC now owns 6,900 shares of the communications equipment provider’s stock valued at $159,000 after buying an additional 600 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Barracuda Networks by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 52,327 shares of the communications equipment provider’s stock valued at $1,209,000 after buying an additional 621 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Barracuda Networks by 2.0% in the first quarter. Parametric Portfolio Associates LLC now owns 33,590 shares of the communications equipment provider’s stock valued at $776,000 after buying an additional 655 shares during the last quarter. 61.61% of the stock is owned by institutional investors.

Shares of Barracuda Networks, Inc. (NYSE:CUDA) opened at 23.37 on Wednesday. The company has a market cap of $1.24 billion, a PE ratio of 123.00 and a beta of 3.30. Barracuda Networks, Inc. has a 1-year low of $19.06 and a 1-year high of $26.69. The company has a 50-day moving average price of $23.17 and a 200-day moving average price of $22.73.

Barracuda Networks (NYSE:CUDA) last released its quarterly earnings results on Monday, July 10th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.18. The firm had revenue of $94.18 million for the quarter, compared to the consensus estimate of $91.18 million. Barracuda Networks had a negative return on equity of 1,770.56% and a net margin of 2.81%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the business posted $0.20 EPS. Equities research analysts expect that Barracuda Networks, Inc. will post $0.76 earnings per share for the current fiscal year.

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Several research firms have recently commented on CUDA. Northland Securities reissued a “buy” rating and issued a $28.00 price objective on shares of Barracuda Networks in a report on Friday, June 30th. BTIG Research reissued a “buy” rating and issued a $30.00 price objective on shares of Barracuda Networks in a report on Saturday, July 22nd. Stifel Nicolaus reissued a “buy” rating and issued a $32.00 price objective on shares of Barracuda Networks in a report on Wednesday, July 19th. Piper Jaffray Companies reissued an “overweight” rating and issued a $28.00 price objective (down previously from $29.00) on shares of Barracuda Networks in a report on Wednesday, July 12th. Finally, Imperial Capital increased their price objective on Barracuda Networks from $20.00 to $21.00 and gave the company an “in-line” rating in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Barracuda Networks currently has an average rating of “Buy” and an average target price of $26.59.

In related news, CEO William D. Jenkins, Jr. sold 80,612 shares of Barracuda Networks stock in a transaction on Monday, July 10th. The stock was sold at an average price of $24.02, for a total transaction of $1,936,300.24. Following the transaction, the chief executive officer now directly owns 621,108 shares in the company, valued at $14,919,014.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael D. Perone sold 236,987 shares of Barracuda Networks stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $24.02, for a total value of $5,692,427.74. Following the transaction, the director now owns 2,988,898 shares in the company, valued at $71,793,329.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 896,778 shares of company stock worth $21,563,162. Company insiders own 13.90% of the company’s stock.

Barracuda Networks Company Profile

Barracuda Networks, Inc designs and delivers security and data protection solutions. The Company offers cloud-enabled solutions that enable customers to address security threats, manage network performance, and protect and store their data. Its solutions are designed to manage information technology operations for its customers.

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Institutional Ownership by Quarter for Barracuda Networks (NYSE:CUDA)

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